Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against SoDEX0.000%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$520.517% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now 0.000%, 7d avg +0.015%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX DOGE-USD	0.1049	0.0100	pay 0.0013% / 1h	44m 34s	$2K	$4.9M	10x
Short	Phemex DOGEUSDT	0.1049	0.0100	get 0.0100% / 8h	3h 44m	$96.5M	$17.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SoDEXbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.015%: −$1.52
Slippage, 4 orders: −$31.67
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$53.19
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from SoDEX: live order book, 4 min ago; Phemex: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy SoDEX live order book, 4 min ago	0.48 bp	4.6 bp −$5	8.5 bp −$85	142.8 bp −$14.3K	doesn't fit
Sell Phemex live order book, 5 min ago	12.44 bp	19.2 bp −$19	43.6 bp −$436	doesn't fit	doesn't fit

DOGE on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX DOGE-USD	0.0000%	1h	0.1047	−0.161%	$235K	$70K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1047	−0.190%	$731K	$6.1M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1048	−0.055%	$25K	—	150x	as long as short
Bitget DOGEUSDT	+0.0012%	8h	0.1049	−0.029%	$142.0M	$308.4M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.1049	−0.043%	$748K	$6.4M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1048	−0.119%	$569K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1048	−0.057%	$5.0M	$53.2M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1048	−0.114%	$338K	$510K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1048	−0.102%	$347.9M	$1.57B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1048	−0.067%	$173.2M	$487.0M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1049	−0.038%	$120.1M	$1.15B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1047	−0.225%	$402K	$11K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1048	−0.067%	$259.1M	$141.7M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1048	−0.114%	$117.6M	$239.9M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1048	−0.133%	$69.0M	$47.3M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1047	−0.181%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1049	−0.038%	$354K	$1.2M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1044	−0.461%	$1.2M	$8.4M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1045	−0.358%	$335K	$134.5M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1043	−0.534%	$659K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1046	−0.286%	$164K	$317K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1048	−0.124%	$269K	$889K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1049	−0.019%	$74K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1049	−0.017%	$26K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1050	+0.050%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USDlong	+0.0100%	1h	0.1049	long leg	$2K	$4.9M	10x
HTX DOGE-USDT	+0.0100%	8h	0.1048	−0.071%	$6.2M	$63.2M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.1049	0.000%	$96.5M	$17.1M	50x
Paradex DOGE-USD-PERP	+0.0103%	8h	0.1048	−0.069%	$19K	$7K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1048	−0.080%	$505K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1049	+0.013%	$20K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0125%	8h	0.1048	−0.095%	$1K	$485K	10x	as long as short
Reya DOGERUSDPERP	+0.0191%	1h	0.1048	−0.079%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1049	−0.010%	$16.3M	$27.5M	75x	as long as short
Phoenix DOGE	+0.0235%	1h	0.1045	−0.414%	$19K	$292K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0240%	1h	0.1049	−0.030%	$5.6M	$37.7M	50x	as long as short
01 Exchange DOGEUSD	+0.0256%	1h	0.1049	+0.036%	$467	$4K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0261% / S −0.0320%	1h	0.1048	−0.098%	$346K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.1047	−0.181%	$2.0M	$32.1M	50x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0437%	1h	0.1050	+0.048%	$591K	$242K	25x	as long as short
Hyperliquid DOGE	+0.0582%	1h	0.1049	−0.010%	$130.1M	$107.4M	10x	as long as short
Arcus DOGE-USD	+0.0634%	1h	0.1050	+0.076%	$114K	$200K	10x	as long as short
RISEx DOGE/USDC	+0.0728%	1h	0.1049	+0.024%	$423K	$426K	10x	as long as short
Injective DOGE/USDC PERP	+0.1062%	1h	0.1053	+0.381%	$6K	$242K	12x	as long as short